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BCLP advised Playtech plc on the sale of its financial trading division

BCLP advised Playtech plc on the sale of its financial trading division

Oct 11, 2021
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Summary

International law firm BCLP has advised Playtech plc (Playtech) on the proposed sale of its financial trading division, Finalto, to Gopher Investments (Gopher) for US$250 million in cash. Gopher is a 4.97% shareholder in Playtech.

The transaction is expected to close in the first half of 2022 subject to shareholder approval and regulatory clearances.

Playtech, a leading technology company in the gambling industry, delivers business intelligence-driven gambling software, services content and platform technology across the industry, including casinos, sports betting, virtual sports, bingo and poker. The sale will enable the company to focus on its core gambling business in line with its strategy.

The BCLP team was led by Partner Kurt Ma (M&A and Corporate Finance) with support from Partner Benjamin Lee, Senior Associate Tom Bacon, Associate Olivia Scott and Trainee Yaniv Grunberg (M&A and Corporate Finance).

The deal team also included Partners Oran Gelb and Sarah McAtominey from Litigation and Investigations, Partner Derek Hrydziuszko and Associate Richard Beazley from Banking, and Partner Matthew Baker from Investment Management.

Partner Ian Ivory and Associate Amelia Jansen (M&A and Corporate Finance) and Partner Richard Harbot and Associate Hugo Clark-Ryan (Tax Advice and Controversy) advised on the management warranty and disclosure process. 

This material is not comprehensive, is for informational purposes only, and is not legal advice. Your use or receipt of this material does not create an attorney-client relationship between us. If you require legal advice, you should consult an attorney regarding your particular circumstances. The choice of a lawyer is an important decision and should not be based solely upon advertisements. This material may be “Attorney Advertising” under the ethics and professional rules of certain jurisdictions. For advertising purposes, St. Louis, Missouri, is designated BCLP’s principal office and Kathrine Dixon (kathrine.dixon@bclplaw.com) as the responsible attorney.